Daily Update - 16th August 2018
Data released yesterday in US showed that retail sales in July rose 0.5% above expectations. During the American session, the greenback lost strength favoring a correction in EUR/USD. Despite moving off lows, the pair continues to move with a bearish bias, still facing pressure. UK July CPI data was in line with expectations. The BoE will be keeping an eye on sterling's slide; transport and food prices pushed headline CPI up slightly and are sensitive to movements in sterling. But with underlying inflation near target and Brexit uncertainty lingering, there is no need for further monetary tightening anytime soon. Australia jobless rate dropped to 5.3 percent in July, pushing the AUD higher across the board. The GBP/USD is trading near the 1.2700 level ahead of today's London market session as fears of a no-deal Brexit continue to rise and inflation figures for the UK barely make it to expectations. Next up for the GBP will be Thursday's Retail Sales figures. Sterling traders are hoping that the Retail Sales figures for July manage to climb. Riskier assets and the EUR scored gains in Asia, possibly due to the news that Chinese officials will be traveling to the United States for trade talks in late August. At press time. Yesterday’s Market
Yesterday’s Focus
Today’s Market
Today’s Focus
